Category: Companies
Sri Lanka moves up 11 notches in Ease of Doing Business Index 2019
Nov 02, 2018 (LBO) – Sri Lanka rose 11 notches in the Ease of Doing Business index 2019 being ranked 100 among 190 economies, the World Bank said. Sri Lanka has carried out four reforms which included making dealing with construction permits easier, while the introduction of online systems made it easier to pay taxes. […]
Teejay 6-month net profit up 20-pct to Rs.705Mn
Nov 01, 2018 (LBO) – Sri Lanka’s Teejay Lanka PLC, a textile manufacturer, has reported sales of 14.4 billion rupees and profit after tax of 704.8 million rupees at Group level for the six months ending 30th September 2018. This reflects a healthy growth of 25 percent and 20 percent respectively for the period, the […]
PropertyGuru doubles down on Southeast Asia with funding round
(PRESS RELEASE) Group bolsters its regional leadership with the new funding and full consolidation of Vietnam’s No. 1 property portal, Batdongsan.com.vn SINGAPORE, 31 October 2018 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Asia’s leading property technology group, today announced that it has secured S$200 million (approx.) [US$145 million] in a Series D round of funding […]
Piramal Glass top line grew by 14-pct during half year ended Sept 2018
Piramal Glass Ceylon PLC has reported its results for the 1st half of the year FY 2018-19 with Rs. 3,586 million of Revenue and Rs. 38 million of Profit After Tax as against the similar period of the previous year which was Rs.3,082 million and PAT of Rs. 154 million. At half year the Company’s […]
John Keells (JKH) stock flying – approaching 150/share as foreigners selling
October 30, 2018 (LBO) – Shares in Colombo Stock Exchange (CSE) bellwether John Keells Holdings (JKH) are soaring with the stock approaching Rs150/share after recently hitting multi-year lows. The stock has had a strong near 20% bounce off the lows.Volume is light so far today even as the stock is up 4%.Yesterday there was heavy […]
Sri Lanka export income up in Aug 2018: Reserves at USD 8.6Bn
Oct 30, 2018 (LBO) – The Central Bank of Sri Lanka said the island’s external sector performance remained subdued in August 2018. “During the month, the deficit in the trade account narrowed marginally compared to a year earlier as the rise in export income outpaced the growth in import expenditure,” it said. Meanwhile, other inflows […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Finance Ministry launches dedicated hotline for Enterprise Sri Lanka
Oct 25, 2018 (LBO) – Sri Lanka’s Finance Ministry has introduced a call center and a hotline number 1925 to assist and resolve issues faced by entrepreneurs under the Enterprise Sri Lanka credit scheme. Accordingly, any entrepreneur can dial the special information hotline to submit their inquiries, complaints, and feedback. Under this scheme, over 58,817 […]
‘s Bank
October 24, 2018 (LBO) – President Maithripala Sirisena has appointed long time public servant Sujatha Cooray as the Chairperson of People’s Bank according to a Newsfirst report.Cooray is a former Secretary to the Ministry of Ports and Highways. She has also served as Deputy Secretary to the Treasury.The new Chairperson has a Masters in Development Studies, […]
Ravi Abeysuriya appointed to Seylan Bank board as an Independent Director
October 23, 2018 (LBO) – Ravi Abeysuriya has been appointed to the board of directors of Seylan Bank with effect from October 17t, 2018 according to a stock exchange disclosure. Abeysuriya’s Bloomberg executive profile reproduced below: Mr. Ravi Abeysuriya, CFA, serves as the Chief Executive Officer of Heraymila Securities Limited. Mr. Abeysuriya served as Managing […]
Sri Lanka introduces Business to Consumer direct transaction under E-commerce
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry as envisaged in the Budget-2018 has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa.Accordingly, hereafter […]
Finance Ministry justifies divestiture of Hyatt and Hilton Hotels
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry on Monday justifying the divestiture of Hyatt and Hilton Hotels said the decision was taken by the Cabinet and proposed in several budget speeches. The ministry further stated that independent financial advisers Lazard and MTI through their global offices have already begun to reach out to […]